Cost, Schedule, and Time Variances and Integration
Publication: Journal of Construction Engineering and Management
Volume 119, Issue 2
Abstract
This paper demonstrates detailed schedule‐ and cost‐control relationships at the activity/cost‐account level using generic microcomputer software to budget, track, and control projects. Time variances are introduced to describe differences between scheduled times and actual times for activity and project performance. Variances are the sum of more detailed variances, and variances can be calculated and reported at different levels of detail, whether for activities and cost accounts or for a project as a whole. Activity/cost‐account budgets sum to project budgets, and variances sum to project variances. A unified nomenclature and parallel budget and variance structures allow integration of cost and schedule control for projects that share common work breakdown structures. Budget, actual, and variance values of cost, progress, and time are combined in a single figure to demonstrate integration at the activity/cost‐account level. Equation development is augmented with computer implementation details for generic spreadsheets or custom applications. Examples are presented for a single element from start to completion and for a project of four elements.
Get full access to this article
View all available purchase options and get full access to this article.
References
1.
Abudayyeh, O. Y., and Rasdorf, W. J. (1991). “Integrated cost and schedule control automation.” Preparing for construction in the 21st century (Proc. Constr. Congress '91), L. M. Chang, ed., ASCE, 679–686.
2.
Abu‐Hijleh, S. F. (1991). “A model for variance‐based exception reporting with user‐defined criteria.” Technical Report No. 18, Univ. of California, Berkeley, Calif., May.
3.
Bernstein, L. S. (1983). “Physical completion measuring techniques.” Current practice in cost estimating and cost control (Proc. Specialty Conf.), ASCE, 147–161.
4.
Carr, R. I. (1991). “Integration of cost and schedule control.” Preparing for construction in the 21st century (Proc. Constr. Congress'91), L. M. Chang, ed., ASCE, 687–692.
5.
“Cost and schedule control system criteria for contract performance measurement: Implementation guide.” (1980). Document No. DOE/CR‐0015, U.S. Dept. of Energy, Washington, D.C., May.
6.
Ibbs, C. W., Ashley, D. B., Neil, J. M., and Feiler, F. W. (1987). “An implementation strategy for improving project control systems.” Project controls: Needs and solutions (Proc. Specialty Conf.), C. W. Ibbs and D. B. Ashley, eds., ASCE, 101–112.
7.
McConnell, D. R. (1985). “Earned value technique for performance measurement.” J. Mgmt. in Engrg., ASCE, 1(2), 79–94.
8.
Murthy, C. S. (1983). “Cost and schedule integration in construction.” Current practice in cost estimating and cost control (Proc. Specialty Conf.), ASCE, 119–129.
9.
Neil, J. M. (1982). “Project control through integrated cost engineering.” Construction cost estimating for project control, Prentice‐Hall, Englewood Cliffs, N.J., 71–92.
10.
“Project control for construction.” (1987). Publication 6‐5, Constr. Industry Inst., Austin, Texas, Sep.
11.
“Project control for engineering.” (1986). Publication 6‐1, Constr. Industry Inst., Austin, Tex., Jul.
12.
Rasdorf, W. J., and Abudayyeh, O. Y. (1992). “NIAM conceptual data‐base design in construction management.” J. Comput. in Civ. Engrg., ASCE, 6(1), 41–62.
13.
Rasdorf, W. J., and Abudayyeh, O. Y. (1991). “Cost‐ and schedule‐control integration. Issues and needs.” J. Constr. Engrg. and Mgmt., ASCE, 117(3), 486–502.
14.
Riggs, L. S. (1987). “Project control techniques.” Project controls: Needs and solutions (Proc. Specialty Conf.), C. W. Ibbs and D. B. Ashley, eds., ASCE, 11–25.
15.
Sears, G. A. (1981). “CPM/COST. An integrated approach.” J. Constr. Div., ASCE, 107(2), 227–238.
16.
Singh, A. (1991). “Knowledge bases for C/SCSC.” Cost. Engrg., 33(6), 39–48.
17.
Teicholz, P. M. (1987). “Current needs for cost control systems.” Project controls: Needs and solutions (Proc. Specialty Conf.), C. W. Ibbs and D. B. Ashley, eds., ASCE, 47–57.
Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 119 • Issue 2 • June 1993
Pages: 245 - 265
Copyright
Copyright © 1993 American Society of Civil Engineers.
History
Received: Aug 31, 1992
Published online: Jun 1, 1993
Published in print: Jun 1993
Authors
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.